Registered number
NI624965
GO2BSA Ltd
Filleted Accounts
30 June 2023
GO2BSA Ltd
Registered number: NI624965
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,415,419 2,415,419
Current assets
Debtors 4 840,060 841,340
Cash at bank and in hand 158,533 34,876
998,593 876,216
Creditors: amounts falling due within one year 5 (412,420) (407,679)
Net current assets 586,173 468,537
Total assets less current liabilities 3,001,592 2,883,956
Creditors: amounts falling due after more than one year 6 (698,798) (853,692)
Net assets 2,302,794 2,030,264
Capital and reserves
Called up share capital 20 20
Profit and loss account 2,302,774 2,030,244
Shareholder's funds 2,302,794 2,030,264
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Jayne McMahon
Director
Approved by the board on 19 March 2024
GO2BSA Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 July 2022 2,415,419 27,656 2,443,075
At 30 June 2023 2,415,419 27,656 2,443,075
Depreciation
At 1 July 2022 - 27,656 27,656
At 30 June 2023 - 27,656 27,656
Net book value
At 30 June 2023 2,415,419 - 2,415,419
At 30 June 2022 2,415,419 - 2,415,419
4 Debtors 2023 2022
£ £
Other debtors 840,060 841,340
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 156,118 181,077
Taxation and social security costs 69,914 68,793
Other creditors 186,388 157,809
412,420 407,679
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 123,673 278,567
Other creditors 575,125 575,125
698,798 853,692
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 15,428 31,855
Secured bank loans 279,791 459,644
Bank loans are secured by a first legal charge over the property assets of the company.
8 Other information
GO2BSA Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
26 University Avenue
Belfast
Antrim
BT7 1GY
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